OeEB invested around EUR 8.5 million in the Africa Renewable Energy Fund II (AREF II). As with the participation in AREF, the goal here is to improve the energy supply in sub-Saharan Africa with renewable energy.
|Project name||Africa Renewable Energy Fund II|
|Sector||Energy / Resource efficiency / Infrastructure|
|Project volume||EUR 8.5 million|
|Project partner(s)||Africa Renewable Energy Fund II|
OeEB already contributed to the Africa Renewable Energy Fund in 2015, as the demand for energy in the countries of sub-Saharan Africa has risen sharply due to strong population- and economic growth.
Too many people in the region still do not have enough access to energy. This is where AREF came in and invested in renewable energy projects to improve the energy supply situation. AREF II will also focus on renewable energy projects with a focus on photovoltaics, wind and hydropower. AREF II will work primarily with local project developers. In addition to equity, the fund also provides know-how for project preparation and implementation.
The total volume of the fund is around EUR 300 million. By investing in AREF II, OeEB contributes to the strategic focus area "Renewable Energy" and contributes to OeEB's Africa goal.